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BrokerStudio
Suite of tools & services
Benefits
Asking Price
$1,590,000
Cap Rate
The capitalization rate is the rate of return on a real estate investment property based on the income that the property is expected to generate.
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Lot Size
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Building Size
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Premise Summary
Historic Commercial building for sale in the downtown business area. Overlooking the beautiful Summerside Harbour, it is easy to imagine the endless opportunities this rare piece of Real Estate can offer. Long term tenants in place. Featuring 138 ft of frontage on Water St, there is an additional 36,000 sq ft of unused space that could be converted into 30-35 loft like rentals. Recent improvements include a new propane furnace in 2021, some new windows, lights, and flooring. More information available upon request. (id:39198)
Location
Province
Prince Edward Island
City
Summerside
Address
294-298 Water Street
Postal Code
C1N1B8
Location Highlights
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Listed by
CENTURY 21 NORTHUMBERLAND REALTY Prince Edward Island listing
Category
Property Information
Premise Status
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With Accommodation
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Tenancy
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Lot Size
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Available Space
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Building Size
59,691
Year Built
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Years Remaining in Current Lease Term
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Renewal Options
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Operational Information
Number of Working Owners
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Current Owner - years
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FF & E
Furniture, Fixtures & Equipment that remain with the business.
Not Included
Inventory Value - approximate
Consumable items the restaurant sells or uses such as food, beverages, cleaning supplies, etc.
Not Included
Franchise
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Financial Information
Yearly Rate
$1,590,000
Asking Price
$1,590,000
Cap Rate
The capitalization rate is the rate of return on a real estate investment property based on the income that the property is expected to generate.
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NOI
Net Operating Income equals all revenue from the property, minus all reasonably necessary operating expenses.
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Gross Revenue- annual
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Cash Flow - annual
1 Take your “Net Income before Taxes”, then,
2 Add up all payments to: owners + interest + allowances for asset depreciation.
3 ADD together 1 + 2 = CASH FLOW (aka Seller’s Discretionary Earnings)
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EBITDA
Earnings Before Interest, Taxes, Depreciation, Amortization.
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Premises Size (square feet)
59,691
Other Information
Owner willing to Finance
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Absentee Owner
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Support and Training
Not Included
Growth and Expansion
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Market Competition
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